Question The business partners are considering handing out cash bonuses to all their staff. They would prefer not to go through wages, so employees are not taxed. It is a one-off cash bonus, some employees $1,000, others $5,000. They are happy to register for fringe benefits tax if required. Is this the best way to go? Answer If you want …

Question Could you please explain what this means? This is from bO2 newsletter issue #108. There is temporary full expensing for the purchase of capital assets between 6.10.2020 and 30.6.2022. If your business has a genuine need for new equipment, you could directly benefit from this. Business with aggregated annual turnover below the relevant threshold will be able to deduct the full cost eligible …

Question I have received a booklet titled “Budget 2020” from the Liberal Party of Australia recently, and I would like confirmation on an item stating  Asset Write Off: “Over 99% of businesses will be able to write off the full value of any eligible asset they purchase for their business. This will be available for small, medium and larger businesses …